PureCycle Technologies, Inc. (NASDAQ: PCT) announced a €40 million grant agreement with the European Climate, Infrastructure and Environment Executive Agency (CINEA) for its ‘ASTRA PP’ polypropylene dissolution recycling project in the Port of Antwerp‑Bruges, Belgium. The grant was disclosed on March 24 2026 and will fund the construction of a new facility in the NextGen District.
The Antwerp plant will have an annual production capacity of 59,000 tonnes (about 130 million pounds) of PureFive® resin, the company’s high‑purity recycled polypropylene. Construction is slated to begin in 2024, with commercial operations expected to start in 2028. The project uses PureCycle’s patented solvent‑based dissolution technology, which separates polypropylene from contaminants at the molecular level and delivers a near‑virgin‑quality product that meets the EU’s Packaging and Packaging Waste Regulation (PPWR) and End‑of‑Life Vehicles Regulation (ELVR).
The €40 million grant is part of the Innovation Fund 2024 Call for Net‑Zero Technologies, which awarded €2.7 billion across 54 projects. For PureCycle, the funding provides critical capital to accelerate its European expansion at a time when the company’s cash burn remains high and revenue growth is projected to quadruple in fiscal 2026. The grant also supports the company’s goal of reaching 1 billion pounds of installed capacity worldwide by 2030.
CEO Dustin Olson said the grant “validates our dissolution recycling technology and confirms Europe’s commitment to a circular plastics economy.” He added that the Antwerp facility “positions PureCycle to deliver recycled polypropylene at scale to European brand owners and manufacturers, meeting the stringent recycled‑content targets set by the EU.”
The grant enables PureCycle to achieve an estimated 85 % reduction in greenhouse‑gas emissions compared with conventional virgin polypropylene production, aligning with the EU Green Deal’s net‑zero objectives. By providing a high‑purity recycled feedstock, the project also helps European manufacturers meet the PPWR and ELVR requirements, which mandate increasing recycled content in packaging and vehicle components. The facility’s capacity will support the growing demand for recycled polypropylene driven by these regulations and the broader shift toward sustainable materials.
Overall, the €40 million grant strengthens PureCycle’s competitive position in the European circular‑plastic market, validates its technology, and provides the financial foundation needed to scale operations while addressing regulatory and environmental headwinds.
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